Through our Green Economy Financing Facility and thanks to the support of the European Union, we helped local developer Orascom sign an agreement with SolarizEgypt to design and build a solar plant in the area.
The investment has helped the city reduce its electricity costs and secure a clean energy source for the next 25 years, reducing the town’s electricity costs by 12 per cent and cutting El Gouna’s annual CO2 emissions by 8,418 tonnes.